2013 New Jersey Revised Statutes
Title 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Section 42:1A-52 - Foreign qualification required; effects of failure


NJ Rev Stat § 42:1A-52 (2013) What's This?

42:1A-52. Foreign qualification required; effects of failure

52. a. A foreign limited liability partnership transacting business in this State shall not maintain an action or proceeding in this State unless it has in effect a statement of foreign qualification.

b.The failure of a foreign limited liability partnership to have in effect a statement of foreign qualification shall not impair the validity of a contract or act of the foreign limited liability partnership or preclude it from defending an action or proceeding in this State.

c.A limitation on personal liability of a partner shall not be waived solely by transacting business in this State without a statement of foreign qualification.

d.If a foreign limited liability partnership transacts business in this State without a statement of foreign qualification, the State Treasurer shall be its agent for service of process with respect to a right of action arising out of the transaction of business in this State.

L.2000,c.161,s.52.


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